Technical analysis EURCAD for 04.04.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36950. The closest resistance is the level 1.37750
Key levels
- 1.39525, 1.38825, 1.38325, 1.37750, 1.36950, 1.36250
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.36950 and Stop Loss of 1.37750
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.37750, with Take Profit of 1.38325 and Stop Loss of 1.37550
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.